Bookkeeping with MYOB is a pleasure. It’s easy to use, reliable and extremely versatile. Not only that, but accountants love it and it’s the preferred recommendation of many professional accounting practices to their clients.
How do I know? My work history includes a number of years in chartered firms, using MYOB data to prepare annual income tax returns and periodical Business Activity Statements. I know what tax accountants are looking for and how they like your MYOB accounting information to be presented. MYOB bookkeeping can be done well, or it can be what accountants commonly call a “dog’s breakfast”.
The bottom line is, the less adjustments they have to make, the less it costs you the business owner – and at betwee $100 – $200 per hour, it could save you quite a bit.
This is where MYOB Training Adelaide comes in. We can show you exactly what you need to be aware of in order to provide accounting information to your tax practitioner in such a way that minimizes their time trying to work out exactly what happened.
Some common bookkeeping mistakes:
1. Processing your purchase invoices using the “Purchases” module, but then processing the supplier payments using the “Spend Money” area of MYOB.
2. Processing your sales invoices using the “Sales” module but then entering your receipts using the “Receive Money” feature of the banking module.
The net effect of the above two errors creates a duplication of revenue and expenses, thus giving misleading financial performance figures. It also makes doing a Bank Reconciliation a major headache. In fact, if the client doesn’t do a bank rec, this problem is often never discovered.
So whether you’re looking for an MYOB Consultant to simply train you or your staff in the right way to use the program, or whether you’d like to hire us to come and do it all for you, we are here to give you all the MYOB help you need.